Omokoroa Real Estate: Area Guide
by Mike Wade
Community minded and surrounded by harbour scenery
The peninsular township of Omokoroa is one of Tauranga north’s fastest growing communities with lots to offer. Only 15 mins drive from Bethlehem township and 20 mins from the CBD this traditional retirement area is changing quickly and that includes the demographics.
You can live out here and enjoy a semi- rural, or small township lifestyle, while still having all the conveniences close at hand.
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Since September 2015 the real estate market in Omokoroa has really been on the move with pressure from not only the Auckland market but other areas of NZ as buyers have come to realise what a great lifestyle Omokoroa has on offer. The past eighteen months have seen well over 100 sections and new houses being built in Omokoroa and as the area has gained in recognition and favour there have been increasingly strong sales across the more traditional area of established housing with the purchase and renovation of older homes taking place, especially where properties have offered the great views that Omokoroa is known for.
With a traditional slant to the retiree market, this has now changed with a steady mix of young couples with families, professionals and semi-retirees locating into the area.
A local initiative from Western BOP District council is seeing the fast track development of Omokoroa as a growth strategy area. This will see the improvement of local roading, roundabouts and other necessary infrastructure to cope with the projected growth of the area from its current 3000 population to a projected 6000 people by 2022 and 12000 people by 2036.
As the area north of the railway line infills with new housing and a mix of subdivisions, then there are several large housing estates destined for development south of the railway line and back toward the main SH2.This will include the land owned by the WBOPDC which is zoned for a special housing development.
This will include provision for commercial development along with a light industrial estate closer to the main road.
Further detail on the 10 year growth strategy plan can be viewed on the WBOPDC website.
Real Estate on offer: The property market is currently very strong with only a shortage of listings contributing to lower monthly sales figures. New houses are being built by the week and we are now seeing the first rounds of sales of near new homes built over the last few years. These are now seeing significant capital gain for sellers, while still offering competitive pricing for people moving from Auckland and other centres such as Christchurch and more recently Wellington. We are seeing an influx of returning kiwis from abroad. These are mainly young professionals who are being attracted to the area for its lifestyle advantages.
There are still homes being offered in the older party of the “Point” in the high $400’s to $500’s, however much of this stock requires extensive renovation or modernisation. There are also more expensive homes on offer in the mature part of the “Point” ranging from the high $600’s through to the $1m plus for homes with paramount views.
In the newer areas of Lynley Park and parts of Links view drive and surrounds the resales are mainly in the $700’s to $800,000’s. There are also executive homes offering quality views, fetching prices in the $1m plus range.
For those wanting a new build, the option of buying a bare section, designing a home to suit personal needs and then building, is still a good financial decision as long as budgets can be met. Preferably for buyer safety, not only should the cost of the build be clear with a fixed price, detailed and itemised quotation being tabled by the building company but land or section development costs, retaining and earthworks along with building consents should be tabled pricewise before buyer acceptance of the chosen builder’s contract. Builder’s guarantees and insurance during the build should be thoroughly investigated and an all up cost – “turn key” should be sought by the customer. There are a number of good and reliable building companies in the market, or for those wanting a custom build there are competent and cost effective local builders offering quality cost competitive builds. Section options as we speak are scarce with pricing ranging from $250,000 for a smaller first entry section with no views through to medium to larger sections with views reaching from the $300’s to the $500’s and over. Buyers looking for sections should act quickly and purchase as stock remains short. With time more sections will open up, some with land and house packages tied to specific building companies being available, but as time progresses there are plans for much larger parcels of land to open up and options may increase. This is not expected until next spring and summer 2017.
One last option is that there are some limited new homes on offer in boutique subdivisions .These are essentially land and house packages designed and built to a “turn key” level. Buyers negotiate a price for the package with the vendor and then settle into a house that is ready to go. Purchasing a new house ready to go has some positive advantages for those who are time hungry or do not feel competent with the time and stress that building can involve.
Most of the completed land and house packages coming on the market currently are in the high $700’s to $800,000’s range, dependent on section size and type of construction.
Claridges advice for selling in this market is simple:
1/ Our company considers that it is preferable to advertise a price for your property when listing, rather than doing an Auction, Price by Negotiation, Tender or Price on Application.
We believe the buying public in general are tired of having no clear price guides when they are looking to buy a property. Pricing your home does not mean that you won’t receive multiple offers for your property. You can often achieve a price well over the asking price if your home is priced correctly and there are a number of keen buyers for it wishing to offer.
Your Claridges sales person will help you understand this method of selling and design the best strategy approach for your pricing. Pricing your property will ensure it stands “out from the crowd” as most of the other companies are only offering Auction or Price by Negotiation. Also, Auctions limit buyers to being cashed up and willing to offer at auction unconditionally. This stressful process eliminates a substantial part of the buyer market as many people feel too vulnerable to offer on a property under these conditions.
In multiple offer scenarios as we have described we have seen some very good prices being offered by Auckland buyers with short –time conditions in their contracts such as builder’s report or LIM conditions only. Even some buyers who have a home to sell as a condition may be able to fulfil that condition very quickly as Auckland properties continue to sell fast at high prices. Auckland buyers are often quite generous buyers price wise, as they are more adjusted to the high cost of property where they have been living.
2/ It goes without saying however, presentation is everything. It is very important to de-clutter… you’re going to have to pack everything up when you sell anyway. Ask us for a recommendation for small improvements that could help sell your house for more. We sell houses every day and we know what small changes can be made to make large improvements to a vendor’s presentation of their home in readiness for sale.
3/ We believe a professional photoshoot is absolutely essential to the marketing of your home. Claridges would recommend a number of websites to load these professional photos onto eg: realestate.co.nz, Trademe property,Open2view and our own Claridges website. This maximises your potential audience as statistics show the majority of buyers use the internet when initially looking for houses and property. This will give the many website browsers a clear picture of your home and is great for eliminating buyers who are not suited to your property, before they ring for personal viewing.
We also use the professional photos for reproduction in newspaper advertising as well as the production of flyers and window brochures in the four BOP – Claridges office windows ( Mount Maunganui, Bethlehem, Omokoroa, Katikati) as well as for mail drops, open homes etc.
The “Point” has great services on offer such as doctors, dentists, physios and other types of medical practitioners along with a vet, pharmacy, boat club restaurant and bar, coffee shops, Fresh Choice supermarket, liquor store, and garage. There is ‘The Centre’ an Op Shop and Meeting Place, run by the community for the community, with profits going into local Organisations and Groups. We have a great little library.
Omokoroa has a primary school, several preschools and an excellent bus service to High schools across Tauranga to Katikati.
Surrounded by water on two sides the peninsula has an 18 hole Golf Course, A boatramp and well supported Boat Club along with Bowling Club, sports fields and skatepark for the kids along with tennis courts and miles of lovely walks for those wanting an outdoor lifestyle. A new boardwalk and cycle track linking Omokoroa to Tauranga is now under early construction.
People who live here say they love the relaxed and friendly community feel. A couple remarked that children will greet them as they pass which never happened when they lived in the big city.
Water activities are endless. An all tide ramp makes boating access easy and there are moorings available for yachts and launches.The sheltered waters are perfect for sailing, kayaking, jet-skiing, windsurfing and more. The beaches are safe and the mid summer fishing is great!